The Broncos and Clady have been at odds over a long-term contract for more than a year. Had he not signed by Monday, he would have played under a one-year, $9.823 million deal because of the franchise tag.

Instead, Clady has a deal that guarantees him at least $33 million and should keep him in Denver through the end of Manning’s playing days.

Clady, a first-round draft pick in 2008, is still recovering from surgery to his right shoulder and is expected to miss the start of training camp, which begins July 25.